RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: SNB CUTS KEY POLICY RATE BY 50 BPS TO 0.5%

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Mid-Day Power Summary: France Remains Up WoW

POWER

France July power base load has been gradually trending lower today amid a downward revision in temperature forecasts. However, front-month prices are still tracking a 13% weekly increase from last Friday’s close. Nordic front curve futures are holding onto some losses amid a wetter outlook.

    • France Base Power JUL 24 down 2.3% at 55.7 EUR/MWh
    • Germany Base Power JUL 24 up 0.8% at 74.4 EUR/MWh
    • EUA DEC 24 up 0.2% at 66.83 EUR/MT
    • TTF Gas AUG 24 down 1.8% at 34.235 EUR/MWh
    • Rotterdam Coal JUL 24 down 0.9% at 104.4 USD/MT
  • TTF has deepened some losses today but remained within yesterday’s range with fundamentals relatively unchanged on the day as healthy storage levels and a cooling weather forecast are set against import supply risks.
  • EU ETS Dec24 recovered some earlier losses to trade broadly stable on the day.
  • The latest weekly German EUA CAP3 auction cleared lower at €65.01/ton CO2e, down from €67.36/ton CO2e in the previous auction and the lowest since 5 April according to EEX.
  • Defence & Security Trumps Climate Change & Energy In New Strategic Agenda: The 'Strategic Agenda' agreed upon at the 27 June European Council summit is intended as a set of (non-binding) aims for policy direction in key areas under the next European Commission running from 2024 to 2029.
  • The German and French day ahead base-load contracts diverged, with Germany moving up on the day amid low wind on Saturday and France falling due to steady renewable and nuclear output. This pushed up higher power prices in the early morning hours in Germany compared to France – increasing the average baseload price.
  • The German day-ahead spot settled at €70.55/MWh from €63.05/MWh on the previous day. The French day-ahead spot closed at €25.40/MWh from €34.42/MWh on the previous day.
  • Italian gas-fired generation climbed to the highest since March in June, despite PV output reaching a 2024 high in the same month, while hydro output also reached a yearly high, according to data from Entso-E.
  • Lithuania’s Litgrid has concluded that building the 700MW Harmony power link between Poland-Lithuania on land is a suitable alternative to building it at Sea, with the official decision to be made by the end of 2024, it said.
Homepagemarkets-real-timeBulletPower Bullets
Homepagemarkets-real-timeBulletPower Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.